GeoFund
- International Geothermal Workshop
Partnership International, Inc (PI) in partnership
with the International Geothermal Association (IGA)
received financing from the World Bank (WB) toward
the cost of the implementation of region-wide technical assistance
as part of the Geothermal Energy Development Program (GeoFund),
to host the International Geothermal Workshop.
The World Bank's GeoFund - IGA International Geothermal
Workshop goal was to systematically promote the use of
geothermal energy in the Europe & Central Asia (ECA)
by removing barriers to the development of geothermal renewable
energy, leading to greater use and increase in demand for, and supply
of, geothermal energy projects. The International Geothermal Workshop
was directed toward high-level energy officials, developers and
financiers. The workshop was targeted directly to GeoFund countries,
with a particular focus on Turkey. The workshop goals is to enable
geothermal development by bring together decision-makers with leaders
in geothermal industry and finance.
Hosted in Istanbul, Turkey from February 16-19,
2009, several Turkish businesses attended who are geothermal developers
or recently bided on privatized geothermal sites in Turkey. These
participants come to the workshop to seek partners to help develop
their geothermal potential. The event brought together geothermal
technical experts, developers and financiers to enable geothermal
energy in the near-term. Our goal was to provide ongoing support
and sustainable development of geothermal projects to local developers
in Turkey and the ECA region.
Toward this end the World Bank’s (WB) GeoFund is the first region-wide
program of its kind; it is implemented jointly with International
Finance Corporation (IFC) to promote private sector investments.
Our Workshop is part of phase 1 of a total of 3 phases to enable
geothermal development in the ECA region. The GeoFund overall assistance
phases are as follows:
1) Technical Assistance: Through the Geothermal
Workshop our goal is to present the attendees with methods of how
to develop a project, carry-out financial analysis and economic
modeling, prepare winning proposals to the GeoFund for explorations
and drilling, and secure international financial resources.
2) Direct Investment:: GeoFund, via the World
Bank, will support selected project developers by providing low
cost loans, contingent grants and outright grants which would cover
part of the project cost through monetization of external benefits.
Likewise, via the IFC, the GeoFund will help improve the performance
of existing geothermal installations through renovation of existing
facilities, and will also support bankable business plans for “greenfield”
facilities where the resources are promising.
3) Geological Risk Insurance: GeoFund will partially
insure project developers/investors against the short-term and medium-term
geological risks. This insurance will help mitigate the risks associated
with geothermal energy exploration and operation that are considered
key barriers to geothermal energy investments.
These GeoFund eligible countries are: Albania, Armenia, Azerbaijan,
Belarus, Bosnia-Herzegovina, Bulgaria, Croatia, Georgia, Kazakhstan,
Kirgizstan, Macedonia, Moldova, Montenegro, Romania, Russia, Serbia,
Ukraine, Tajikistan, Turkey, Turkmenistan, and Uzbekistan.
Please contract us for more information on the Workshop:
Tracy Mathieu, VP Business Development Tracy.Mathieu@Partnership-International.com
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For further details
on our Geothermal Workshop, please review click on the links below:
> Geothermal Workshop Overview
>
Workshop PRESS CLIPS
>
Geothermal
Workshop Program
> Workshop
Speakers Bios
>
WSU's RELCOST Geothermal Financial - Economic Calculator
>
Workshop Proceedings - Full (36.7 MB)
Below is a list of the GeoFund International Geothermal Workshop
organizing entities:
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